Yes on the XBI. It is down 4% while IBB is down 2.2%. I look at both. It is the chart action and macd I am interested in. That helps me to know that anything in the bio sector will get dragged up or pushed down unless news mitigates or gives countertrend.
Even turkeys can fly in a hurricane.
Totally agree on your analysis and logic. Agree also that we won't know for sure until it happens.
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